Merkel Taps Adviser to Head Bundesbank

German Chancellor Angela Merkel named her chief economic adviser as the new head of the country's central bank, the Bundesbank, which was hit last week by the resignation of its president, Axel Weber.

Ms. Merkel's decision to send her close aide Jens Weidmann to the Bundesbank is a strong signal that Germany won't put forward a German candidate to succeed Jean-Claude Trichet as president of the European Central Bank later this year....